From Westpac comes a preview of tomorrow’s capex release:
The 2nd estimate for 2014/15 pointed to a decline in business capex, with a sharp downturn in mining only partially offset by a lift in services sector spending. These broad themes are likely to be restated. What policy makers will be looking for is some greater clarity around the likely magnitudes of these divergent trends.
It’s a craps shoot but for what it’s worth I expect a disappointing report with some pull back on non-mining capex after the last very good report and a further deterioration in mining.
Full report here.
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